Customer story
HLB AG
Discover how HLB AG use Snips to automate manual procedures with DataSnipper and achieve efficiencies during peak audit and tax season
Based in Marietta, Ohio, Perry & Associates CPAs specializes in a variety of financial services in the areas of Tax & Accounting, CAS, Audit, Advisory, Information Services & Forensic Accounting firm. As change-makers in the industry, they invest in the best technology and training to ensure they always deliver the best results.
Over recent years, Perry & Associates CPAs recognized the pressing need to integrate innovative technologies into their audit and finance procedures. This strategic move aimed to enhance their competitive edge and deliver services to clients more efficiently and cost-effectively. In the consultancy sector, Perry & Associates CPAs often encountered chaotic and disorganized general ledgers and transactions. Clients frequently provided packs of paper documents that required scanning and digitizing to convert to a manageable format.
This challenge was amplified by the COVID-19 pandemic, which significantly increased their workload, highlighting the urgency for a transformative solution. DataSnipper emerged as the optimal choice to revolutionize their auditing procedures by automating manual and repetitive tasks, thereby increasing efficiency and elevating service quality.
With DataSnipper, instead of spending hours manually extracting data from PDFs, we can analyze the data and provide additional, higher-quality feedback. This shift not only improves the level of service we offer but also allows us to maintain or even increase our rates because we are delivering more value. It's a win-win for both us and our clients.
Analyzing extensive documents for grant requests and compliance was particularly challenging. A notable case involved a client with 50 different funds, each needing separate reporting to the federal government. The client provided three years of data in six banker boxes filled with paper documents. Using DataSnipper, junior team members scanned the documents, and by leveraging DataSnipper’s Optical Character Recognition (OCR) technology and the Snips features, they were able to automatically extract the data into Excel.
This enabled the team to accurately dissect the data, identifying receivables and payables, and correctly segregating the funds. By implementing DataSnipper, the firm seamlessly cross-referenced source documents with Excel data, providing clear documentation trails, and significantly scaling their preparation and review processes.
The transformation led to substantial time savings, reducing the preparation of workpapers from 80 hours to just 25 hours. What would have cost tens of thousands of dollars for Perry & Associates CPAs’ clients was completed in a fraction of the time with DataSnipper increasing their competitive advantage.
In a landmark case, Perry & Associates CPAs leveraged DataSnipper to analyze 50,000 pages of documents within seven days—a feat unattainable through manual methods. DataSnipper’s intelligent automation features, such as Smart Search and Document Matching, were instrumental in quickly pinpointing critical information.
With Smart Search, they were able to search for specific keywords like "statement," "bank account," and known bank names, and ultimately managed to analyze approximately 50% of the documents, far exceeding the initial expectation of 5%. This thorough examination uncovered emails where the organization under investigation admitted to covering up assets.
DataSnipper's capabilities were instrumental in identifying the handful of relevant bank statements within the 50,000 pages, ultimately providing the court with compelling evidence of financial misconduct. This rapid analysis was crucial in identifying key evidence, significantly influencing the case’s favorable outcome.
By integrating DataSnipper into their audit and finance procedures, Perry & Associates CPAs experienced a transformative improvement in efficiency and service quality. DataSnipper streamlined consultancy processes, reducing grant review preparation times by 68% and played a pivotal role in a landmark forensic case by analyzing 50,000 documents in just seven days. This integration enabled the firm to manage chaotic data more effectively, significantly reducing manual effort while delivering cost-effective, high-quality services to clients.
The integration of DataSnipper also revolutionized the daily operations at Perry & Associates CPAs. Preparers experienced heightened productivity and accuracy, eliminating time-consuming manual processes. Automation capabilities and cross-referencing allowed preparers to identify errors efficiently, minimizing the continuous back and forth. Moreover, reviewers and senior team members benefited from streamlined review processes, by having more time to focus on delivering superior client service with increased efficiency.
DataSnipper's automation streamlined consultancy processes, cutting grant review preparation times by 68% and playing a crucial role in forensic case by analyzing 50,000 pages of documents in just seven days.
Snips, Smart Search and Document Matching make it possible to efficiently extract large amounts of information from a wide variety of documents. This eliminates the need for manual data typing.
Automated cross-referencing between Excel workbooks and source documents, greatly simplifies the review process for both the team and external stakeholders.
